PNB raises Rs 1,500 cr through bonds

Public sector Punjab National Bank (PNB) said that it has raised Rs 1,500 crore by issuing Basel III compliant bonds on private placement basis. "The bank has raised Rs 1,500 crore additional tier-I (Basel III compliant) capital bonds at a coupon of 8.98 per cent per annum on private placement basis," PNB said in a regulatory filing.

To comply with Basel III Capital Regulati

Shriram Transport Finance raises Rs 400 cr via bonds issue

Shriram Transport Finance Company Ltd today said it has raised Rs 400 crore by selling bonds on private placement basis. "The allotment committee-NCDs of the company in its meeting held today, approved and allotted 4,000 secured, redeemable rated listed non-convertible debentures ...Aggregating to Rs 400 crore on private placement basis," the company said in a regulatory filing.

E-tailer Snapdeal`s board accepts Flipkart`s up to $950 million buyout -sources

MUMBAI -Online marketplace Snapdeal has accepted Flipkart's revised takeover offer of up to $950 million, two sources said on Wednesday, providing heft to its bigger rival in a high-stakes battle with Inc.

The board of Jasper Infotech, which runs Snapdeal, approved Flipkart's bid of $900 million-$950 million last week, the sources who were familiar

American Capital Assurance selects Majesco Suite for P&C

Majesco, a global provider of core insurance software services has said that American Capital Assurance Corp. has selected Majesco Suite for P&C, inclusive of Policy, Billing, Claims and Rating, Majesco Distribution Management, Majesco Business Analytics and Majesco Enterprise Data Warehouse to transition from an outsourced provider. American Capital Assurance Corp.

(AmCap Insuran

GAIL launches start-up initiative titled `Pankh`

GAIL (India) Limited has said that its Chairman and Managing Director Shri B C Tripathi has launched a Start-up initiative titled ‘Pankh’ to identify and promote innovative ventures. “Shri Subir Purkayastha, Director (Finance), Shri P K Gupta, Director (Human Resources), Shri Gajendra Singh, Director (Marketing) along with senior officials of GAIL were present on the occasion,

Suzlon bags power project from Alfanar Group

Suzlon Group, one of the leading global renewable energy solutions provider in the world, has said that it has won an order of 50.40 MW wind power project from Riyadh based Alfanar Group. This is a maiden order from Alfanar, for 24 units of S111-90m wind turbine generator, each with a rated capacity of 2.1 MW. The project will be completed by March 2018. Alfanar Energy is a fully owned subsidia

TCS recognized as `Leader` by Everest Group

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has said that it has been recognized as a 'Leader' for Life Sciences BPO Services by leading advisory and research firm, Everest Group, in its report, 'Life Sciences BPO - Service Provider Landscape with PEAK MatrixTM Assessment 2017.'

“The report highli

Ratings agencies divided on impact of Reliance Jio phones

Flagging concerns on the success of proposed cheap phone from Reliance Jio, rating agency Icra said it's positive from an Arpu perspective, while rival Crisil estimated a massive slowdown in data usage growth to four times in the next five years from the present 24 times, reported PTI "JioPhone is likely to keep the competitive intensity of the industry high with RJio targeting strong

Markets open on a positive note on Wednesday

The NSE Nifty edged up on Wednesday, hovering near the 10,000-point mark it breached for the first time in the previous session, with stocks such as Vedanta Ltd <VDAN.NS> gaining on solid quarterly results.

Expectations of a better earnings season with improving economic indicators have increased investor confidence, extending a record-setting rally this year, although high valu

SEBI to introduce commodity position limits to curb price fluctuations

NEW DELHI  - The Securities and Exchange Board of India (SEBI) is creating three categories for agricultural commodities and will introduce limits that investors can hold for each one to try to reduce price fluctuations.

Commidities will be classed as sensitive, broad or narrow, bassed on the frequency of government interventions in their markets and overall avai

Wipro to offer IT infra solutions with HPE

Software major Wipro on Tuesday tied up with global IT major Hewlett Packard Enterprise (HPE) to offer IT infrastructure solutions to enterprises on pay-per-use billing.

"The consumption-based or pay-per-use IT Infrastructure procurement and provisioning will be offered to HPE and our customers, globally," said the outsourcing firm in a statement here.

The partners

NSE Nifty has potential to sustain beyond 10k: Experts

The key Indian equity index -- NSE Nifty 50 -- has the potential to sustain beyond the 10,000-point mark, contingent on healthy quarterly results outcome, experts opined on Tuesday.

The optimism over the continued uptrend on NSE Nifty comes after the index breached the 10,000 points mark during the early-morning trade session on Tuesday.

In contrast to its opening rise, the

Tinplate Co India works with Tata Steel Europe to improve operations

Tata Steel subsidiary Tinplate Company of India Ltd, which is looking to undertake its business independently, has been working closely with Tata Steel Europe for the last eight-nine months for operational improvements, a company official said on Tuesday.

"We have been working closely with Tata Steel Europe team in the last eight-nine months in terms of operational improvements b

Vodafone-Idea merger transactions expected to be completed in 2018

 A day after the Competition Commission of India gave its nod to the Vodafone India-Idea Cellular merger, both companies in a joint statement said other statutory approvals were expected to come soon and the transaction will be completed during 2018.

"We welcome the decision of the Competition Commission of India approving the proposed merger of Vodafone India and Idea Cellu

US regulatory nod for Zydus drug to treat ulcer

Zydus Cadila on Tuesday said it has received final approval of the US Food and Drug Administration (USFDA) for its Mesalamine delayed-release tablets (800mg) to treat a bowel disease that causes inflammation in the digestive tract (ulcerative colitis).

"The drug will be manufactured in our formulation manufacturing plant at Moraiya near Ahmedabad," a company statement said.<

Elantas Beck Quarterly Result standalone net down 12.59%

Net sales of the company declined by 5.52 per cent at Rs 91.97 crore for the quarter ended June 30, 2017 as against Rs 97.34 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses dropped by 2.20 per cent to Rs 75.05 crore from Rs 76.74 in year ago period. Other Income grew by 19.23 per cent at Rs 2.17 crore versus (Jun'16 Rs 1.82 crore).


Bharti Airtel posts smallest profit in 18 quarters

Bharti Airtel Ltd, India's top telecoms operator, reported its smallest profit in 18 quarters as a price war sparked by an upstart carrier weighed on earnings.

Profit on a consolidated basis, which includes Bharti's Africa operations and its Indian satellite TV business among others, fell 75 percent to 3.67 billion rupees ($57.01 million) in the three months to June 30, the co

McDonald`s U.S. same-restaurant sales beat estimates

McDonald's Corp on Tuesday reported a better-than-expected increase in quarterly sales at established U.S. restaurants, helped by promotions on beverages as well as the launch of signature crafted sandwiches.

McDonalds' sales at U.S. restaurants open at least 13 months rose 3.9 percent in the second quarter ended June 30, beating the 3.2 percent increase analysts on average ha

Hero MotoCorp Quarterly Result profit rises 3.5 percent on higher sales

Hero MotoCorp Ltd posted a 3.5 percent increase in quarterly profit on Tuesday, in line with expectations, helped by higher sales volumes.

Profit after tax was 9.14 billion rupees ($141.99 million) in the first quarter ended June 30, compared with 8.83 billion rupees a year earlier, the world's largest two-wheeler maker said.

Analysts on average had expected a profit of

Axis Bank sees progress on bad loans, smaller decline in profits

Axis Bank reported a smaller-than-expected 16 percent drop in quarterly profit on Tuesday and said it was making progress on containing bad loans.

The bank, India's third-biggest non-state lender by assets, retained its provisioning cost guidance of 175 basis points to 225 basis points for the current financial year to March. However, finance chief Jairam Sridharan said the bank w

Vedanta first-quarter consolidated profit doubles

Vedanta Ltd, the Indian unit of diversified energy group Vedanta Resources PLC, reported a doubling of quarterly consolidated profit on Tuesday, as higher zinc prices helped the company to reap improved margins.

Consolidated profit came in at 15.25 billion rupees ($236.76 million) in the quarter ended June 30, with profit from zinc operations in India rising three-fold to 18.15 billio

Reliance Defence launches first 2 naval patrol vessels

Reliance Infrastructure subsidiary Reliance Defence and Engineering Limited (RDEL) on Tuesday announced the launch of its first two Naval Offshore Patrol Vessels (NOPVs) at their shipyard in Pipavav, Gujarat.

The two NOPVs -- 'Shachi' and 'Shruti' -- are among five ships being constructed by RDEL under the P-21 project of the Indian Navy, the company said in a sta

Equity markets close flat; Sensex, Nifty scale new intra-day highs

Erasing morning gains, the Indian equity markets provisionally closed on a flat note with marginal losses. However, both the NSE Nifty and the BSE Sensex scaled fresh highs during intra-day trade on Tuesday.

According to market observers, the key equity indices were lifted on expectations of healthy quarterly results, coupled with hopes of a lending rate cut by the Reserve Bank o

KPR Mill Quarterly Result net up 2% at Rs 46.17 cr

Net sales of the company rose moderately by 6.83 per cent at Rs 543.45 crore for the quarter ended June 30, 2017 as against Rs 508.72 crore in the corresponding period last year. During Apr-Jun quarter, operating expenses increased by 8.28 per cent to Rs 457.23 crore from Rs 422.25 in year ago period. Other Income dipped by 44.34 per cent at Rs 4.08 crore versus (Jun'16 Rs 7.33 crore).

Asian Paints first-quarter consolidated profit falls 20 percent

Paint manufacturer Asian Paints on Tuesday reported a 20.23 per cent fall in its consolidated net profit at Rs 440.74 crore for the quarter ended June 30, 2017 as compared to Rs 552.56 crore in the corresponding quarter last year.

Its total income increased by nearly 5 per cent to Rs 4,306.60 crore during the quarter under review as against Rs 4,103.56 crore in the same period last ye